The Case for Business AviationA recent study found strong evidence of the ubiquity of business aviation at America’s leading firms. More than 90% of firms recognized for excellence used corporate aviation assets.
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Plan for the Future with Health Savings AccountsHealth savings accounts can help fund medical expenses in retirement. If you wish to retire early, they can help cover health care expenses before you are eligible for Medicare.
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The Case for Business Aviation

A recent study found strong evidence of the ubiquity of business aviation at America’s leading firms. More than 90% of firms recognized for excellence used corporate aviation assets.Business aircraft allow organizations to better leverage what is almost always their most important assets: their people. They do this by saving employee time and creating productive environments in transit, two things that are nearly impossible leveraging other forms of transportation.

People are living longer, presenting a number of financial opportunities and challenges. Find out how to plan for the long term. People are living longer and more dynamic lives than ever before. While planning for a robust second act, so too must you build out your financial plans to allow you to have the resources to do all the things you want to do in retirement. Providing for what are likely to be much longer twilight years also means providing for the challenges of reaching old age.

Even in the face of uncertainty, abundant capital and intense demand are expected to drive the M&A environment into 2018.Whether you’re contemplating buying or selling a business — or if you’re just curious about current market conditions — this webinar will provide valuable, real-time market insights for key decision makers.

The price of gold rings and lords a leapin’ increased this year as did the pear tree – but not the partridge. Visit pncchristmaspriceindex.com for fun and educational features.
The PNC Christmas Price Index predicts True Loves will be on their merry way to a more robust and satisfying holiday shopping season this year. To purchase the gifts included in the classic holiday song “The 12 Days of Christmas,” it will only cost 0.6 percent more than in 2016, according to the 34th annual holiday economic analysis.

Health savings accounts can help fund medical expenses in retirement. If you wish to retire early, they can help cover health care expenses before you are eligible for Medicare.If you wish to retire before age 65, a major roadblock may be the ability to pay for medical expenses before you are eligible for Medicare. While premiums for health insurance other than Medicare are generally not qualified expenses, you can use HSA money for deductibles associated with the health insurance plan you do obtain as well as co-pays and prescription drug costs.

Whether your goal is to diversify while staying actively involved in the business or to execute on a complete sale of the business, an ESOP can accomplish either.ESOPs provide owners with the ability to attain liquidity and address transition objectives in a tax advantaged manner. ESOPs provide flexibility and intangible benefits that are difficult or impossible to achieve with alternative exit strategies.

Many studies corroborate the notion that employee ownership yields positive outcomes for the company and benefits that employees can readily recognize.ESOPs provide owners with the ability to attain liquidity and address transition objectives in a tax advantaged manner. ESOPs provide flexibility and intangible benefits that are difficult or impossible to achieve with alternative exit strategies.

There’s still time to address year-end tax and financial planning. Here are nine possible tax-saving actions you can implement now.Sometimes you don’t get to your financial planning as early as you would have liked. The good news is, it’s not too late to take some action. Here we provide a quick review of a few valuable income tax and estate planning strategies you might still use before year end.

More than $8.72 trillion has been invested in the United States in Responsible Investing strategies. Learn best practices. The PNC Institutional Advisory Solutions® Investment Strategy Team has formalized its views on responsible investing for institutional investors. This summary discusses those views and key considerations for asset owners as they evaluate integrating responsible investing into the management of their portfolios.

You can't afford to wait for clarity when determining European strategies in the face of an uncertain Brexit environment. This seminar will arm your company with the tools it needs.Improve your understanding of the economic impact and potential disruption to trade flows. Identify possible negotiation outcomes surrounding passporting rights and data privacy. Review foreign exchange concerns including currency volatility. Recognize the potential impacts on employees, customers and vendors.

Cash balances continue to remain high; there’s a large investment in bank products and organizations have no plans to invest in prime money market funds. Could that change?While much of the talk around money funds asks why corporates left, AFP’s survey attempted to dig a little deeper. We asked practitioners what might entice them to come back. Would it be a stable NAV? Is it a certain number of basis points? Is it the uncertainty around it?

It’s important to review your plans so they reflect your current status and wishes. Use our checklist to identify documents you might easily assess on your own.Your advisors can help you map out the provisions of your will and any trust(s) and compare them with the beneficiary designations of any retirement plans, life insurance, and any other resources that might pass by any form of contract. Compare the results to confirm that, in total, they accomplish what you want.

The 60% stock and 40% bond portfolio may no longer be sufficient to generate the returns required to meet the long-term goals of institutions and individuals.As interest rates have decreased, investors have had to assume greater portfolio risk and asset class diversification to keep pace with their objectives. In 1995, an investor could earn a 7.5% return with a simple 100% fixed income portfolio. By 2015, investors needed a drastically more diversified portfolio, with fixed income shrinking to 12% of the total portfolio.

Are you facing international cash management challenges without uniform internal systems – and with thinly-spread local staff?According to a 2016 Ovum survey of 200 treasurers in 23 countries, only 13% of multinational corporates can see their real-time global cash position. Treasury teams need to achieve a greater degree of centralization and regain control of their company’s most important asset: cash.

We believe buy-sell funding has a “Goldilocks zone” of sorts in that parties to a buy-sell agreement will seek to find an optimal funding level.Acquiring an appropriate amount of life insurance coverage, properly structuring ownership and beneficiary designations, and aligning the type of life insurance policy with the terms of the buy-sell agreement are critical to implementing a successful funding strategy.

A key to effective wealth management and family wealth transfer is recognizing the risks that threaten you and your family’s wealth and developing strategies to minimize them.Recognize the risks that threaten you and your family’s wealth and develop strategies to minimize them. Disability, divorce and predators are just a few of the risks families face. A well-designed and well-administered trust is one of the most effective tools for managing life’s risks and achieving wealth goals.

When you plan for the cost of new equipment, don’t forget to plan for the significant portion of the total equipment expense called “soft costs.”Finding a lender with a strong specialty in equipment financing and who understands more than just the invoice amount is key. As long as soft costs stay within certain parameters of the total investment, you can fold them into your affordable monthly equipment payment, preserving your cash for more important needs.

Only 22% of retirement plan sponsors are currently benchmarking the Income Replacement Ratio for their participants. And that can leave a major gap in participant retirement readiness.The income replacement ratio is the percentage of pre-retirement income that an individual is likely to need to maintain their standard of living in retirement. Adding it to traditional benchmarking metrics can improve how plan providers, along with plan sponsors, communicate and educate plan participants.

Trade negotiations, including changes to NAFTA and the uncertainties presented by Brexit make the need for foreign exchange risk mitigation more urgent than ever. Evaluate current risk management practices, including the establishment of a hedge policy. Ensure that your internal policies and controls correctly account for risks. Update your management reporting systems to correctly list your FX exposures and hedging activity.

Criminals are compromising victim accounts by stealing user credentials or by persuading users to give up their credentials through increasingly sophisticated social engineering.PNC has assembled a panel to help you address these issues. It includes representatives of the healthcare industry and law enforcement, including the FBI, the Office of the Inspector General of the U.S. Department of Health and Human Services, the National Cyber Forensics & Training Alliance and the National Health Care Anti-Fraud

Many organizations are exploring how to better manage their retirement plan’s investment lineup, control risk, and keep costs down.Is now the right time to consider outsourcing your defined contribution plan’s investment selection and monitoring? If you’ve already decided to outsource, how do you determine whether a nondiscretionary 3(21) or discretionary 3(38) fiduciary service is best suited to your needs?

Organizations need to identify the potential exposures, quantify costs and consider additional investments.PNC Healthcare has worked with a number of large healthcare delivery systems over the last several years, assisting them in grappling with the dramatically changing healthcare environment. The insight we have developed through these relationships can be helpful to any business that offers healthcare insurance to employees or is concerned about rising costs.

PNC’s economists forecast that the Federal Reserve will continue to raise interest rates throughout 2017 and beyond.In order to reduce the impact of rising rates on borrowing costs, companies should develop and implement a comprehensive plan to manage their interest rate exposure. PNC speakers provide a perspective on how external factors may affect your financing costs and what you can do to regain control.

Pension plan sponsors are faced with a volatile political and macro landscape that presents significant opportunities and risks.There is uncertainty around the timing and potential size of Federal Reserve rate hikes, the potential impact on the longer end of the curve, the policies of a new administration, and the ability of the economy to maintain the positive momentum of the last eight years.

Pension plan sponsors face a volatile landscape that presents significant opportunities and risks, especially if they have a legacy defined benefit plan, or are considering a merger.Healthcare systems are complicated organizations, managing their liabilities to maintain credit ratings in a competitive environment. Pension risk is a liability many systems face and several strategies available are highlighted in this article.

Healthcare systems should examine their current strategies, the adequacy of their information systems and the revenue and cost assumptions under which they are operating.The uncertainty of the Affordable Care Act, cyber security, value-based payment models, mergers and consolidations, monetization of data, transformation of the care continuum and blockchain solutions are among the issues that successful healthcare systems have addressed. Find out what has worked.

Get an overview of the business climate within China and recent international developments affecting the market.Understand the macroeconomic outlook as it affects transactions with China, identify best practices for doing business in China, outline key issues and considerations related to setting up on-the-ground operations in China and gain insight into the currency market and the growing role of the renminbi (RMB) in international trade.

Despite the prospect of a higher interest rate environment, access and availability in the debt capital markets remain open and attractive in both floating and fixed-rate segments.
Banks maintain a solid appetite for new loans as we enter 2017; however, it remains to be seen if banks begin to become more selective in their investment decisions in the overall context of a rising rate environment coupled (potentially) with a less rigid regulatory environment.

2016 included a number of significant political and economic events that will usher in changes during 2017.PNC’s Harris Williams & Co. subsidiary (www.harriswilliams.com) is a leading M&A advisor with experience across a wide range of industries. Bill Watkins, Managing Director, and Larissa Rozycki, Vice President, discuss results from 2016 and the rationale behind predictions for 2017 M&A activity.

Uncertainty regarding U.S. economic strength, global considerations and unanticipated events will likely result in continued market volatility over the near term.
We follow a consistent and disciplined approach to investing, seeking diversified sources of return. In our opinion, investors are best served if they work with their advisor to focus on their long-term goals, with an asset allocation that is appropriate for the risk profile and return objectives of their unique circumstances.

Cyber criminals are finding new and subtler ways to infiltrate legitimate businesses to conceal or advance their objectives.
As a financial institution that is focused on creating long-term, collaborative relationships with its customers, PNC believes strongly that the USA PATRIOT Act requirement to know our customers, their ownership, business purpose, suppliers and customers benefits our national security — and your security as well.

As 2017 begins, stock and oil prices are moving higher and economic outlooks for 2017 are being revised.Economic growth will be faster in 2017-2018 with assists from consumer spending, construction spending, business investment and Federal government spending, more than offsetting weakness in U.S. exports as the dollar continues to strengthen and growth outside the U.S. remains slow.

Long a trusted resource for financial institutions, SWIFT also supports corporate treasurers as they face expanding roles and shrinking resources.SWIFT provides messaging standards that define a common means of structuring data for a broad range of financial purposes, from cash management and foreign exchange to trade finance. Additionally, SWIFT provides a highly secure proprietary communication platform and products such as SWIFT FileAct, which supports the exchange of bulk files between corporates and banks.

Stocks and bonds are expensive relative to history, growth remains sluggish, and corporate earnings have been unable to gather sustainable momentum.We remain in a difficult market to forecast, particularly regarding the complex interactions between what we see as the weak fundamental backdrop and how current monetary policy might affect the dollar, interest rates, and investor risk preferences.

You can find relief by improving management of invoice processing through payment. Invoice automation can help you optimize the use of employee resources, significantly decrease the cost of processing invoices, help you capture vendor discounts more reliably and increase scale within your back office.

It's clear that corporations and individuals need to understand the risks and opportunities as an uncertain situation evolves.Britain's Brexit vote upended expectations with 51.9 % of voters backing the "leave" campaign versus 48.1% backing "remain." The result sent shock waves through the markets and created an unstable political environment in the United Kingdom in the weeks following.

The final fiduciary rule issued by the Department of Labor carves out a fiduciary-free zone that allows the delivery of investment education to retirement plan participants.Those who are perceived to have deep pockets present attractive litigation targets. Professionals and business owners are well aware of their risks. Many of these professionals can face malpractice claims, breach of contract claims, and personal injury claims, but there are a multitude of additional risks that professionals and employers confront.

When planning for risk, start with the easiest and least expensive measures and work through the options, weighing whether each measure can address each risk appropriately.Those who are perceived to have deep pockets present attractive litigation targets. Professionals and business owners are well aware of their risks. Many of these professionals can face malpractice claims, breach of contract claims, and personal injury claims, but there are a multitude of additional risks that professionals and employers confront.

Choices about caring for your elderly loved one have to be made in context of what they could mean to your long-term future.The conflict of caregiving duties with work activities is intense: Six in 10 caregivers who worked full-time in 2015 also reported having to reduce hours or take a leave of absence. Some workers find they are able to better manage when they take advantage of workplace accommodations such as telecommuting, flexible hours and paid sick days.

Chart provides detailed information on Money Market Fund regulation considerations at a glance.Intended to preserve the benefits of money market funds while increasing transparency and strengthening investor confidence, new regulations effective in October 2016 will require a re-evaluation of your cash management strategy.

The healthcare cost trajectory has significant implications for companies and employees today --and on retirement prospects for individuals down the road.Changes in healthcare are monumental. It’s hard enough for employers to understand the new landscape. It can be even harder for employees, leaving a significant gap in understanding between the two groups, particularly when it comes to retirement planning.

When outside capital is needed, good cash flow and working capital management will make it easier to find and less expensive no matter what the economic cycle.Companies that make working capital efficiency part of their organization’s culture have the opportunity to generate more of their working capital internally, thereby lowering costs, improving their performance and boosting their competitive position.

Create an education program that incorporates both financial and physical wellness for your employees.Communicate with your employees to identify key topics of concern.Employers can play a significant role in helping their employees achieve a financially secure retirement by addressing the least understood threat to their retirement dreams — the cost of healthcare. The failure to plan adequately for the increase in demand for healthcare in retirement and their projected costs may upend even the best-laid plans.

The Department of Labor has issued a final rule that expands the definition of fiduciary “investment advice” under the Employee Retirement Income Security Act of 1974, as amended. The Final Rule confirms that individuals who provide investment advice to owners of Individual Retirement Account (IRA), Health Savings Account (HSA) and similar individual arrangements will be considered fiduciaries. In addition, the Final Rule expands fiduciary advice to include rollover recommendations.

Whether you have made the decision to sell your business or are just exploring your options for the future, understanding the road ahead can mean the difference between success and disappointment.Business sales are complex transactions that are influenced by many variables. Planning ahead can increase the likelihood of success and potentially enable you to navigate tax considerations. An experienced investment banker who is familiar with your industry can ensure that your business is positioned to achieve maximum value and that the sale process is managed properly.

An RFP allows your organization to describe its objectives, priorities and expectations for bidding potential service providers.An RFP helps you identify the best provider for your needs.It also plays a critical role in fulfilling the fiduciary responsibility of acting prudently and for the exclusive benefit of plan participants and beneficiaries, and serves as a written record of the systematic process behind the selection of your plan service provider.

Many American workers are not prepared to retire, no matter what age.A study by the Board of Governors of the Federal Reserve System found only about 25% of individuals they surveyed were actively saving for retirement. The Fed study noted that the shift from defined-benefit plans to defined-contribution plans has placed greater personal responsibility on employees to plan and save for their own retirement.

Will the Frothy Market Continue?Merger and acquisition activity returned to pre-recession levels in 2014, and significant opportunities for high-quality companies continued throughout 2015. The question remains — how long will this robust M&A market environment continue?

Using a multi-track educational approach can teach participants the value of retirement plan participation and keys to staying on track.Research suggests that plan sponsors are grappling with a conflict between the belief that they provide valuable participant education and the recognition that too many employees are not making informed decisions about their retirement. A deeper understanding behind this disconnect may be the first step in developing a more effective participant education approach.

An estate plan should be dynamic with changes being made as your life changes. This article may offer some guidance as to when you should review your estate plan.With greater wealth comes a greater potential need to plan. Estate taxes may now be an issue and you may want to explore various estate planning strategies to reduce your taxes or minimize the impact of those taxes. You may also want to establish trusts for children and grandchildren to better plan for their future.

PNC Healthcare commissioned Shapiro+Raj to explore changes in the healthcare environment and their impact on providers, payers, and employers. Here are the findings of that study. Millennials will shape the future of American healthcare. They seek change throughout the system. They embrace retail and acute care clinics. They take the most responsibility for their own healthcare. They spend more time researching online, finding providers and getting others’ opinions and they will force much more change compared to Boomers and seniors.

The majority of your employees may not be investing enough for retirement and aren't engaged in retirement planning. Education can benefit your employees and your business.Employees need to feel that they’re in control of their basic financial needs before they can focus on more complex, longer-term financial decisions, such as retirement. If you can help your employees become more confident in managing these needs, they’ll be more likely to plan for their retirement. And your company will benefit.

Now that economic conditions appear to be stabilizing, many are re-focusing on improving their chances for a comfortable retirement. Some are taking a fresh look at their 401(k) plans.Americans’ confidence in their ability to afford a comfortable retirement has plunged to a record low. But these may mean a more realistic appraisal of the savings needed for retirement. Influenced in part by the recession and turmoil in the financial and housing markets, many are redefining retirement—including retiring later or
crafting a “working retirement.

Certain individuals who are ineligible to contribute directly to a Roth IRA may be able to CONVERT traditional IRA and qualified employer-sponsored retirement plan assets to Roth IRAs.If you are fortunate enough to have more than sufficient retirement income and assets, here's a strategy that can be a great way to transfer wealth to the next generation.Traditional IRA balances can be converted to Roth IRAs in part or in whole and there is no limit on how often this can occur.

More and more companies are exploring the benefits of an asset-based solution. It works especially well in industries with tighter operating margins.With liquidity at a premium, asset-based lending can be a particularly attractive alternative to a traditional bank loan or, to having to raise equity, which could dilute ownership. It can help middle-market companies move their business forward.

Plan sponsors are in a unique position to help their employees become more retirement-ready by considering plan design changes as well as consistent, effective employee education.With retirement savings taking a back seat to more immediate financial concerns, and the percentage of workers confident that they’ll have enough money for a comfortable retirement at low levels, it’s more important than ever for plan sponsors to consider retirement readiness as a key — if not the key issue — their employees are facing.

With interest rates on the rise, do income-producing stocks still belong in the average investor's portfolio? The answer is, probably — but it depends.Dividend stocks are enticing to investors during periods of volatility because in such a market they tend to perform well relative to more growth-oriented or higher-risk equities. Companies with a long track record of offering dividends tend to be slow growing; it’s their income potential that appeals to shareholders.

Risk can be defined as the possibility that your retirement assets will not provide for your essential living expenses. The retirement goal for most is to provide the cash necessary.It seems more Americans are taking responsibility for managing their own retirement assets instead of relying solely on a pension. Many are also wondering how to fund the period after the traditional retirement age. Given these factors, we believe thinking about a retirement goal has never been more crucial.

In addition to expanded opportunity, international investing helps reduce portfolio risk through diversification. Allocations to non-U.S. stocks can reduce portfolio volatility.International equity plays a critical role in a well-balanced portfolio. International stocks are a large and growing share of the global investment universe and offer investors the potential to capitalize on faster long-term growth trends abroad. There are also investment opportunities in industry segments that are dominated by non-U.S. companies.

Health Savings Accounts (HSAs) can reduce costs and encourage individuals to take greater responsibility for their health. Find out where they fit in today's healthcare environment.HSAs are not entirely new, but are receiving greater attention today in relation to high-deductible health insurance plans and the Affordable Care Act. They are often viewed as a strategy for reducing healthcare costs and for encouraging individuals to take greater responsibility for their health and the cost of care.

The primary benefit of auto enrollment is that it works to overcome inertia for individuals who procrastinate or do nothing about 401(k) plan participation.Automatic enrollment has been particularly effective in raising 401(k) plan participation levels of groups with the lowest contribution rates — younger and lower-wage workers, but some questions remain. As a plan sponsor, you should understand both the potential benefits and the limitations.

Professionals such as physicians, attorneys and business owners are at risk for liability and litigation. Those who are assumed to have deep pockets can become high profile targets.Asset protection planning is an important part of a comprehensive estate and financial plan addressing an individual’s risks now and in the future. Proper asset protection planning requires time, consideration and knowledge to fully integrate the planning holistically and effectively.

If you are a plan sponsor, you may be impacted by new executive initiatives, legislative proposals and a range of anticipated regulatory actions affecting retirement plans. MyRA is a government-sponsored retirement account which is designed to be a starter account for Americans who have had difficulty saving for retirement. Eligible individuals whose employers agree to participate will be able to make myRA contributions via payroll deduction.

The first step in developing a solid 401(k) benefit plan is to create a request for proposal (RFP) that clearly describes a company's objectives and expectations.The value of an RFP lies in the process and thinking that is invested in it. It should be designed to detail requirements for potential vendors. This exercise lays the foundation that creates the framework of a solid 401(k) employee benefit plan and helps identify an effective provider.

Whether you are establishing a new retirement plan or improving an existing one, setting goals is a critical first step in achieving a plan that is effective for the company and its employees.Real success springs from a belief that the employer is in a partnership with its employees in a shared mission to help them achieve financial security in retirement. This partnership may take many forms, including matching contributions, auto-enrollment, continuing education and planning assistance.

Fiduciaries have important responsibilities and are subject to strict standards of conduct. However, plan sponsors may not know who the fiduciaries to the plan are.If you are involved in the administration of your company's retirement plan, it is important to understand what your role as a plan sponsor entails, as well as how to delegate parts of your fiduciary responsibility if you choose to do so. Even unintentional mistakes can lead to a breach of fiduciary duty that can have significant consequences.

Companies are beginning to recognize the importance of having an investment policy that provides clear direction on how investments will be managed and how much risk is acceptable.A solid investment policy include formalized forecasting and contingency plans to prepare key decision-makers for unexpected events. Contingency plans should include a scenario analysis that details events of varying risk or magnitude and how the company will react. For example — divest, stay the course, or become more conservative.

Companies are continually looking for ways to stay ahead of the competition. And yet many of them overlook the benefits of regular interaction with their banking team.It's a good idea to meet with your banker and talk through upcoming expenditures, including capital expenses. Get to know your bank and the people on your banking team. Regular meetings can help your banker capture a more accurate picture of your business and respond more quickly when needs and opportunities arise.

Does your company have a well-thought-out investment policy? Does your policy have clear, measurable objectives? Has it been written down and shared with the appropriate team?Putting your investment policy in writing is the foundation of effective investing. Your policy should provide benchmarks to help you evaluate how well it is working and what changes may be needed to make it more effective. While every company is different several elements should be part of every policy.

A retirement plan's design, carefully constructed, monitored and maintained, forms the foundation of any successful plan to provide a more stable and secure retirement for participants.A well-designed plan serves as a magnet to attract and retain key employees; communicates to all participants that this is not simply an ordinary benefit at an ordinary company; and represents an opportunity for employers to illustrate their commitment to participants’ individual retirement plans and for participants to optimize their personal financial security.

Healthcare costs are forcing a new calculus on traditional retirement planning. They are rising faster than inflation and will consume a growing percentage of our spending as we grow older.Individuals appear to be significantly underestimating what health care in retirement will cost them. According to a report issued by the Stanford Center on Longevity, “43% of middle-income Americans are paying more for healthcare with Medicare than they expected they would.” One reason for this may be that many are overlooking the prospect of long-term care.

Does your company have a well-thought out investment policy? Does your policy have clear, measurable objectives? Has it been written down and shared with the appropriate team?Putting your investment policy in writing is the foundation of effective investing. Your policy should provide benchmarks to help you evaluate how well it is working and what changes may be needed to make it more effective.

There are five threats to retirement that investors should be aware of. This article discusses those risks and how investors can seek to mitigate them.Thinking about retirement is no longer a future event for many Americans; most recognize the need for careful planning throughout their working years. While it is a positive that Americans are expected to live longer, this can add to the already daunting challenges of funding a comfortable retirement.

Fiduciary responsibility is very important to 401(k) plan sponsors.Confirming that plan fees and expenses are reasonable part of their role.Benchmarking against comparable organizations’ plans is often the most cost-effective and least disruptive method to determine whether fees are reasonable. It involves comparing your plan to plans of a group of organizations that resemble your own. A thorough benchmarking process will balance fee components and value components.

The ability to offer your customers and prospects financing for the purchases they make from you at competitive rates can help you meeting important business goals.Using financing as a core sales strategy can help you sell more of your product to more people and keep your customers longer. You can close deals faster, include more product in the sale and get paid faster. Vendor finance programs also deliver significant benefits to your customers. They can get financing more quickly at favorable rates.

Biases are the basis for cognitive and emotional errors when we apply them in financial markets and they often result in financial losses. Humans have an amazing capacity for reasoning, memory, action, feelings and emotions. But capacity alone does not ensure that we will develop the proper biases to employ every day in predictive scenarios. In some cases, these biases come hardwired in our brains and work against us when it comes to predicting market movements.

If the business is transferred to a Delaware Incomplete-Gift Non-Grantor Trust prior to a sale, the business owner may be able to eliminate state and local taxes on the capital gains.With roots that go back to the first bank charter in Wilmington, Delaware in 1795, PNC Delaware Trust Company has grown by providing customized strategies for personal and business asset protection and innovative wealth planning approaches. A limited purpose trust company established under the laws of Delaware, it provides a number of benefits unique to Delaware.

As an owner of a privately-held company or an executive in a publicly traded corporation, you may be spending more time addressing economic issues and less on your own financial planning. In order to be successful, your plan must be documented. For corporate executives looking to buy or sell their stock, this could include filings with regulatory agencies. A business owner may need to work with his or her legal advisors regarding a variety of structures to support the plan, such as buy-sell agreements, business entities and trusts.

Equipment is just as important to the success of your company as intellectual capital and management strength. Are you leveraging its value to deliver maximum benefits?Many companies have minimized or frozen spending and investments. However, the pressure to stay competitive in the global marketplace makes it unrealistic to hold off on technology and operations improvements for the long term. It's time to determine what initial investments make the most sense and how to finance them. We take a look at some creative approaches.

Securitization allows a company to monetize its trade receivables by legally isolating the assets from the bankruptcy estate of the company originating them.As attractive revolvers mature over the next four years, there can be a liquidity gap that could hamper a company’s ability to finance working capital needs and pursue growth opportunities. Securitization can close that gap. It has enabled many companies to increase liquidity, lower financing costs and diversify their overall capital structure.

Industrial Revenue Bonds Public sector financing can support private development projects that will fuel economic growth in communities. The lower interest rates and longer payment terms characteristic of programs such as tax-exempt Industrial Revenue Bonds (IRBs) can be used to finance growth.

Syndicating your bank credit facility can enhance your access to liquidity so that you can deal with day-to-day challenges and opportunities more effectively.Syndicated loans can deliver capital in a timely manner and on more favorable market terms compared to conventional loans. By working with a group of banks rather than a single provider, you can also mitigate the risks that might arise from dealing with only one bank in an unpredictable environment.

Many companies are finding that an asset-based structure provides the liquidity necessary to quickly execute a buyout or facilitate a turnaround plan.In the past, asset-based financing was viewed as the best option for companies with high risk profiles. Today, the rules about what type of company can benefit from this strategy are changing. And more and more are embracing the flexibility that asset-based financing can offer.

Given the many reasons that companies may need an escrow account, it's important to screen escrow service providers to make sure they meet the needs of all parties.When companies engage in mergers, acquisitions or real estate transactions, all eyes are on closing the deal. However, choosing an escrow agent — often a mandatory step in the process — is frequently low on the priority list, even though a successful close may rely on it.

While banks today still consider traditional criteria like cash flow, leverage, equity and collateral, the experience and integrity of the management team is growing in importance.Some managers who find themselves in challenging circumstances may be reluctant to talk with their bankers, fearing that relaying bad news might close off credit options. Successful companies are open and transparent with their banks, through good times and bad.

Credit is available with competitive terms for companies that see their bank as a vital resource. Here are tips for keeping an open relationship with your banker.Imagine that you run a mid-size company with deep ties to an industry challenged by economic conditions. After decades of success, growth has stalled -- and your income statement is beginning to show it. Open communication with your banker puts everyone in a better position to structure and negotiate the right credit solutions for the challenges at hand.

Market Insights

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